Bitcoin traded near $75,000 (roughly Rs. 70 lakh) on Thursday, holding steady as investors await further clarity on the ongoing US-Iran situation. The world’s largest cryptocurrency continues to trade within a narrow range, supported by strong institutional inflows even as retail participation remains cautious. Ethereum (ETH) was trading at $2,300 (roughly Rs. 2.2 lakh), reflecting steady momentum across the broader crypto market. As per today’s Gadgets 360 price tracker, Bitcoin is currently priced around Rs. 69.9 lakh in India, while Ethereum trades close to Rs. 2.2 lakh.
According to market participants, macro cues and ETF flows are shaping near-term direction, as Bitcoin is currently moving within the $73,500–$75,000 (roughly Rs. 68.6 lakh–Rs. 70 lakh) range. While institutional buying remains strong, the $75,000 (roughly Rs. 70 lakh) level continues to act as a key resistance, limiting further upside.
Market Sentiment Remains Cautious Despite Steady Prices
On Thursday, altcoins like Binance Coin (BNB) and Solana (SOL) were priced around $625.04 (roughly Rs. 58,333) and $85.41 (roughly Rs. 7,973), respectively. XRP hovered around $1.40 (roughly Rs. 131), and Dogecoin (DOGE) was trading close to $0.09 (roughly Rs. 9.01).
Commenting on the current market setup, Akshat Siddhant, Lead Quant Analyst at Mudrex, said, “Retail activity remains cautious, but strong institutional buying is supporting prices, with over $411 million (roughly Rs. 3,83,586 crore) flowing into Bitcoin ETFs. The $75,000 (roughly Rs. 70 lakh) level continues to act as a key barrier, limiting upside since February.”
Highlighting broader market developments, the WazirX Markets Desk said, “Tether has accumulated approximately $70 million (roughly Rs. 653 crore) in Bitcoin, taking its total holdings beyond 97,000 BTC, further strengthening its long-term reserve strategy and signalling sustained institutional conviction […] Across segments, activity remains strong, with metaverse tokens such as BLUR, MANA, and SAND witnessing increased traction. In contrast, Layer 2 tokens, including STX, ARB, and IMX, also gained momentum, reflecting broad-based market participation.”
Offering a structural outlook, Vikram Subburaj, CEO of Giottus.com, said, “Bitcoin’s price action on April 16 reflects a continuation of macro-led stabilisation rather than a decisive demand-driven rally […] This remains a range-bound market […] With the US Fed meeting on April 28–29 approaching, macro will likely drive the next move. Investors should avoid chasing rallies near resistance. Focus on staggered entries, controlled exposure, and disciplined risk management.”
Overall, analysts said crypto markets remain in a consolidation phase, with Bitcoin needing to decisively break above the $75,000 (roughly Rs. 69.99 lakh) level to confirm a stronger upward trend, while the $73,500 (roughly Rs. 68.60 lakh) zone continues to act as key support in the near term.
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
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